HMRC announces new Advisory Fuel Rates
Advisory Fuel Rates are a method of paying – or reimbursing – expenditure on fuel without incurring fuel benefit tax.
THE latest fuel advisory rates (AFRs) have been released by HMRC effective from March 1.
Latest reimbursement rate for diesel cars with engine size of over 2,000cc decreases by 1p per mile (ppm), from 14ppm to 13ppm.
The rate remains the same for diesel company cars with engine sizes 1,601cc to 2,000cc as it does for 1.6-litre engines or less.
Petrol engines of more than 2-litres also see a reduction of 1ppm with other petrol rates staying unchanged.
Hybrid cars are treated as either petrol or diesel models in terms of AFR rates.
Advisory Fuel Rates are a method of paying – or reimbursing – expenditure on fuel without incurring fuel benefit tax.
These rates only apply when you either:
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